SWATCH GROUP |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 195 CHF | +0.75% |
|
+2.07% | -14.72% |
| Apr. 02 | Global markets live: UBS, AT&T, Tesla, United Airlines, Humana, Wanda... |  |
| Apr. 02 | Dpa-AFX Overview: COMPANIES from 02/04/2024 - 15:15 | DP |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 12,755 | 12,291 | 14,175 | 13,103 | 11,658 | 10,079 | - | - |
| Enterprise Value (EV) 1 | 11,407 | 10,594 | 11,619 | 11,309 | 9,672 | 7,810 | 7,526 | 7,358 |
| P/E ratio | 19.1 x | -244 x | 18.9 x | 16.9 x | 13.6 x | 11.5 x | 10.4 x | 9.54 x |
| Yield | 2.96% | 1.45% | 1.97% | 2.28% | 2.84% | 3.45% | 3.93% | 4.27% |
| Capitalization / Revenue | 1.55 x | 2.2 x | 1.94 x | 1.75 x | 1.48 x | 1.27 x | 1.21 x | 1.17 x |
| EV / Revenue | 1.38 x | 1.89 x | 1.59 x | 1.51 x | 1.23 x | 0.98 x | 0.9 x | 0.85 x |
| EV / EBITDA | 7.59 x | 20.6 x | 7.96 x | 7.23 x | 6.12 x | 4.95 x | 4.41 x | 4.11 x |
| EV / FCF | 14.7 x | 18.6 x | 11.6 x | 33.6 x | -56.9 x | 9.3 x | 12.3 x | 11.2 x |
| FCF Yield | 6.82% | 5.38% | 8.63% | 2.98% | -1.76% | 10.8% | 8.15% | 8.92% |
| Price to Book | 1.21 x | 1.14 x | 1.24 x | 1.13 x | 0.97 x | 0.79 x | 0.76 x | 0.74 x |
| Nbr of stocks (in thousands) | 48,367 | 51,619 | 51,771 | 51,808 | 51,836 | 51,872 | - | - |
| Reference price 2 | 270.0 | 241.5 | 279.0 | 263.0 | 228.6 | 195.0 | 195.0 | 195.0 |
| Announcement Date | 1/30/20 | 1/28/21 | 1/25/22 | 1/24/23 | 1/23/24 | - | - | - |
1CHF in Million2CHF
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 8,243 | 5,595 | 7,313 | 7,499 | 7,888 | 7,930 | 8,318 | 8,646 |
| EBITDA 1 | 1,503 | 515 | 1,459 | 1,565 | 1,581 | 1,578 | 1,708 | 1,788 |
| EBIT 1 | 1,023 | 52 | 1,021 | 1,158 | 1,191 | 1,180 | 1,292 | 1,368 |
| Operating Margin | 12.41% | 0.93% | 13.96% | 15.44% | 15.1% | 14.88% | 15.53% | 15.82% |
| Earnings before Tax (EBT) 1 | 1,004 | 36 | 1,011 | 1,096 | 1,152 | 1,197 | 1,313 | 1,418 |
| Net income 1 | 730 | -51 | 765 | 807 | 869 | 835.3 | 917.7 | 975.9 |
| Net margin | 8.86% | -0.91% | 10.46% | 10.76% | 11.02% | 10.53% | 11.03% | 11.29% |
| EPS 2 | 14.17 | -0.9900 | 14.77 | 15.56 | 16.75 | 16.88 | 18.70 | 20.44 |
| Free Cash Flow 1 | 778 | 570 | 1,003 | 337 | -170 | 839.7 | 613.6 | 656 |
| FCF margin | 9.44% | 10.19% | 13.72% | 4.49% | -2.16% | 10.59% | 7.38% | 7.59% |
| FCF Conversion (EBITDA) | 51.76% | 110.68% | 68.75% | 21.53% | - | 53.23% | 35.93% | 36.69% |
| FCF Conversion (Net income) | 106.58% | - | 131.11% | 41.76% | - | 100.53% | 66.87% | 67.22% |
| Dividend per Share 2 | 8.000 | 3.500 | 5.500 | 6.000 | 6.500 | 6.721 | 7.667 | 8.315 |
| Announcement Date | 1/30/20 | 1/28/21 | 1/25/22 | 1/24/23 | 1/23/24 | - | - | - |
1CHF in Million2CHF
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2019 S2 | 2020 S1 | 2020 S2 | 2021 S1 | 2021 S2 | 2022 S1 | 2022 S2 | 2023 S1 | 2023 S2 | 2024 S1 | 2024 S2 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 4,170 | 2,197 | 3,398 | 3,392 | 3,921 | 3,612 | 3,887 | 4,019 | 3,869 | 3,817 | 4,052 |
| EBITDA | 716 | -86 | 601 | 623 | 858 | 709 | - | 878 | 703 | - | - |
| EBIT 1 | 476 | -321 | 379 | 402 | 619 | 503 | 655 | 686 | 505 | 534.7 | 579 |
| Operating Margin | 11.41% | -14.61% | 11.15% | 11.85% | 15.79% | 13.93% | 16.85% | 17.07% | 13.05% | 14.01% | 14.29% |
| Earnings before Tax (EBT) | 464 | -344 | 380 | 402 | 609 | 443 | - | - | 500 | - | - |
| Net income | 315 | -303 | 252 | 267 | 498 | 311 | - | 486 | 383 | - | - |
| Net margin | 7.55% | -13.79% | 7.42% | 7.87% | 12.7% | 8.61% | - | 12.09% | 9.9% | - | - |
| EPS | 6.360 | - | 4.880 | 5.150 | 9.620 | - | 9.560 | - | - | - | - |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 1/30/20 | 7/14/20 | 1/28/21 | 7/12/21 | 1/25/22 | 7/14/22 | 1/24/23 | 7/13/23 | 1/23/24 | - | - |
1CHF in Million
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | - | - | - | - | - |
| Net Cash position 1 | 1,348 | 1,697 | 2,556 | 1,794 | 1,986 | 2,269 | 2,554 | 2,722 |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - | - | - |
| Free Cash Flow 1 | 778 | 570 | 1,003 | 337 | -170 | 840 | 614 | 656 |
| ROE (net income / shareholders' equity) | 6.6% | -0.46% | 6.82% | 6.86% | 7.19% | 6.38% | 6.68% | 6.29% |
| ROA (Net income/ Total Assets) | 5.34% | -0.38% | 5.76% | 5.85% | 6.18% | 4.49% | 4.62% | 3.79% |
| Assets 1 | 13,677 | 13,295 | 13,287 | 13,785 | 14,061 | 18,602 | 19,865 | 25,779 |
| Book Value Per Share 2 | 223.0 | 212.0 | 224.0 | 233.0 | 236.0 | 247.0 | 256.0 | 265.0 |
| Cash Flow per Share 2 | 23.80 | 15.80 | 25.10 | 14.00 | 11.90 | 24.90 | 25.60 | 29.10 |
| Capex 1 | 446 | 249 | 295 | 387 | 785 | 530 | 499 | 469 |
| Capex / Sales | 5.41% | 4.45% | 4.03% | 5.16% | 9.95% | 6.68% | 6% | 5.43% |
| Announcement Date | 1/30/20 | 1/28/21 | 1/25/22 | 1/24/23 | 1/23/24 | - | - | - |
1CHF in Million2CHF
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
B
Sell
Buy
Mean consensus
HOLD
Number of Analysts
20
Last Close Price
195
CHF
Average target price
230.6
CHF
Spread / Average Target
+18.26%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -14.72% | 11.02B | |
| +22.95% | 1.6B | |
| +49.96% | 1.05B | |
| -13.80% | 575M | |
| -11.30% | 567M | |
| -6.20% | 555M | |
| -8.33% | 391M | |
| -18.09% | 165M | |
| -25.81% | 90.7M | |
| +2.63% | 89.74M |
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